Benetton set to quit ASPI as it becomes public company

(ANSA) - ROME, JUL 15 - The Benetton group is set to gradually quit Autostrade per l'Italia (ASPI) as it becomes a public company with the entry of government bank Cassa Depositi e Prestiti (CDP) in an ownership change spurred by the 2018 Genoa bridge disaster that killed 43 people.
    The Benettons are being eased out as being at least partly to blame for the collapse of the Morandi Bridge, the government decided after a marathon six-hour cabinet meeting overnight Tuesday-Wednesday.
    Benetton subsidiary Atlantia will gradually cut its controlling stake as CDP takes a 51% controlling stake.
    The cabinet took so long to decided as there was a row between the anti-establishment 5-Star Movement (M5S), who wanted the Benettons summarily ejected, and the centrist Italia Viva (IV) party which said the Benettons were not guilty and should be allowed to hold on to ASPI.
    The centre-left Democratic Party (PD) had an intermediate position.
    ASPI's motorway concessions will be revised with changes to compensation and toll charges, the cabinet also decided.
    The process of changing the ownership and management structure will begin on July 27.
    ASPI will eventually be floated on the Milan bourse after CDP takes over control.
    Atlantia stocks surged 22% in Milan Wednesday. (ANSA).